Filed March 23, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $324,870 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,659 | $97,541-85.0% | $149,751-90.2% | $106,273-86.2% |
| Participation rate | 90.9% | 66.8%+24.1pp | 82.5%+8.4pp | 70.8%+20.1pp |
| Annual return | 16.43% | 24.23%-7.8pp | 276.71%-260.3pp | 21.70%-5.3pp |
| Employer contribution / active EE | $575 | $2,504-77.0% | $4,646-87.6% | $2,722-78.9% |
| Participant deferral / active EE | $1,429 | $6,023-76.3% | $6,843-79.1% | $4,601-69.0% |
| Admin fee / account holder | $20 | $72-72.4% | $9,312-99.8% | $78-74.8% |